Advisories

According to a joint statement, the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) have reached a tentative agreement on a new six-year master contract, replacing the current contract 6 days before the expiration on January 15th.

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During his latest presidential campaign, Donald Trump spent weeks threatening China, Mexico, Canada, and the E.U. with higher duties unless their leaders took specific action, such as fighting illegal migration or buying more American energy exports. Many companies are now rushing to ship as many goods as possible across the Pacific Ocean and into the United States before Trump’s inauguration on January 20th. 

In the first round of the trade war (‘18-’19), China reacted with a tit-for-tat strategy, implementing its own taxes on imports from the United States to match the United States’ tactics. Chinese authorities have threatened to leverage a new range of economic tools. For example, just days after the United States’ latest restrictions, Chinese President Xi Jinping opened a probe into Nvidia Corp., a dominant U.S.-based computer manufacturing company, banned the export of several rare materials with military applications, and limited sales of key components used to build drones.  

Retaliation is not limited to China; for example, Canada is considering export taxes on major commodities shipped to the U.S., including uranium, oil, and potash. 

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The European Union (EU) unveiled its 15th package of restrictive measures, introducing port access bans and service restrictions on 52 additional vessels, bringing the total number of sanctioned vessels to 79. Notably, tankers carrying Russian oil must now prove they have adequate insurance coverage when passing through European waters. Ships found to be sailing with insufficient insurance coverage will be added to future sanctions lists, as well as ships that refuse to answer the relevant questions. 

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Filers who are approved to participate in the Periodic Monthly Statement (PMS) can pay duties for shipments entered or released during the previous calendar month.

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Labor negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) remain unresolved, with the current contract set to expire on January 15th, 2025. Key U.S. East and Gulf Coast ports, including major logistics hubs like New York, New Jersey, Savannah, Charleston, Houston, and Miami, could be impacted.

Please contact your OIA Global representative if you have questions or need guidance.  

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India’s government approved three rail track expansion projects (375km total) with a total investment of Rs $79.3b:  

• Quadrupling the 160km Manmad-Jalgaon line  
• Quadrupling the 131km Bhusawal-Khandwa line, which will boost freight traffic by 13m tons per year.  
• Tripling the 84km Manikpur-Prayagraj line, which will serve as a feeder route to the 1337km Eastern Dedicated Freight Corridor (DFC), with the expansion expected to increase freight traffic by 16m tons per year.  

Overall, Mahrashtra’s rail freight traffic will be boosted by an estimated 21m tons per year. 

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The Port of Manzanillo, Mexico’s primary gateway on the Pacific Coast, will more than double its capacity to 10m TEUs (currently 3.5m) as part of a $3b expansion, making it the largest container port in Latin America and one of the world’s top 15 ports. 

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The United States, Canada, and Finland recently formed the Icebreaker Collaboration Effort (ICE) Pact, a transformative partnership that strengthens the three nations’ collective presence in the strategically important Arctic and Antarctic regions.  

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The global cold chain market (temperature-controlled containers) was worth almost $248.4b in 2020 but is expected to exceed $410b by 2028. 

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